SpaceX Stock Is Back Above $150. Here’s Where The Stock Could Be by the End of 2027

Space Exploration Technologies (NASDAQ:SPCX) has taken investors on a wild ride since its record-breaking IPO on June 12. The company's shares debuted at $150, well above the $135 IPO price, blew past $200 at some point, then fell to as low as $104, and are now at $151 (as of writing), slightly above its opening day price, and all that in just about three months. Short-term volatility aside, there are reasons to be optimistic about SpaceX's future. Over the next year, we'll know more about whether the rocket company can achieve its ambitious goals. With that said, let's try to determine where the stock could be by the end of 2027 as it makes progress across multiple projects.

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Will SpaceX turn profitable?

In the second quarter, SpaceX's revenue increased 92% year over year to $7.8 billion. The company isn't profitable yet. It posted a net loss of $541 million, or $0.09 per share. But analysts expect SpaceX to improve on that front. On average (as of writing, according to Yahoo! Finance), analysts expect the company to report net earnings per share (EPS) of $0.15 for the third quarter and $0.45 for the fourth, for a full-year EPS of $0.12, which will then soar to $1.75 next year, still according to the average consensus estimates.

On the one hand, we are already seeing a positive trend in the company's financial results. Its net loss of $541 million in the second quarter was significantly better than the $1 billion loss in the year-ago period. However, if we look at the six months ended June 30, we get a different picture. During the first half of the year, SpaceX's net loss per share widened significantly to $1.12, up from $0.53 in the first half of 2025. The improvement in the second quarter wasn't enough to offset a massive loss in the first.

But here's the good news for the bulls: SpaceX's first-quarter loss was partly due to one-time financial charges. So, the trend we saw in the second quarter may indeed indicate where the business is heading over the next few quarters. In fact, even SpaceX's second-quarter loss per share was narrower than expected. That's great news. But as a counterpoint, the market has already factored much of that into the share price.

SpaceX posting strong financial results over the next year -- and even turning profitable -- won't necessarily lead to a sustained run for the stock, given its 70.8 price-to-sales ratio and 204 forward price-to-earnings ratio. At these levels, it might take a while for SpaceX's earnings to grow into its valuation, meaning its shareholders may not see significant gains over the next 12 to 18 months. There is another factor that could harm the stock. A substantial percentage of SpaceX's shares will become available for trading over the next 12 months, and if its owners decide to sell in droves, it could weigh on the stock. That's something else to keep in mind.

A potential catalyst that could jolt the stock

But what if SpaceX makes massive progress where it matters most: The company's artificial intelligence (AI) business? The rocket company has identified AI as its biggest opportunity, with a total addressable market of $26.5 trillion, dwarfing the opportunities it sees in its two other segments. SpaceX's progress in AI isn't independent of its innovation within its space business, though. Consider one of the company's more ambitious plans: AI satellites.

The demand for AI computing power seems relentless right now, but the hyperscalers' AI build-out is constrained by limited power supply, among many other factors. SpaceX thinks AI satellites could bypass some of those problems, but this plan has limitations of its own. Regardless, SpaceX's CEO, Elon Musk, plans to launch the first AI satellite into space by the end of 2027.

The company will then try to ramp things up in 2028. This goal hinges on SpaceX's development of its next-gen rocket, Starship, which is designed to be fully reusable and has a much higher payload capacity than Falcon 9. So, if Starship, which is still undergoing flight tests, makes significant progress over the next year, and SpaceX can launch an AI satellite by the end of 2027, those wins might send the stock price soaring.

Where is the stock headed?

There is a wide range of potential outcomes. Wall Street is optimistic, though. SpaceX's current average price target (according to Yahoo! Finance) is $214.57, implying an upside of 42% from current levels. That's certainly possible. In fact, if SpaceX consistently beats earnings estimates and makes strong progress with Starship, the stock may rise way past that.

However, if the company gets into the habit of barely meeting Wall Street earnings projections, fails to make meaningful progress with Starship, and ends 2027 without an AI satellite in orbit, the stock may move sideways at best. My own expectations fall somewhere between these scenarios, so I'd cap SpaceX's upside at 20% through the end of 2027, which would still be a fairly strong showing. But there is significant uncertainty, and no matter which way the stock moves, it will be another volatile ride. Invest accordingly.

Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.